KAIJS Bank: Board gets re-elected; new Chairman on 26th Feb

The election to the new Board of Kallappanna Awade Ichalkaranji Janata Sahakari Bank (KAIJS) is currently underway. As the outgoing Chairman who is also a Nacfub Director Dr Ashok Soundattikar cannot contest as Chairman due to it being his third term, who would be the next Chairman is a big question.

According to sources of the bank, till last date of nomination 18 directors have filed their nomination papers. The board comprises of 18 members. So, the Board has been elected unopposed but it is not officially announced and the information is being heard on the grapevine. The Special General Meeting is called on 26th February for announcing the result, they said.

Soundattikar is being barred by the MSCS Act 2002 as is the case with NCUI President Dr Chandra Pal Singh who is already looking for a suitable candidate for the next term, though there are close to two years to go before his second term ends.

The KAIJS Bank is the leading bank of South Western Maharashtra with a network of about 44 fully computerized branches spread in more than three states. The bank has earned a net profit of over Rs 10 crore in the last financial year.

Talking to Indian Cooperative outgoing Chairman Dr. Ashok Soundattikar said “the bank election is underway and the results of Chairman and Vice-Chairman will be announced on 26th February. Since I could not continue as the Chairman of the bank for the third term as per the MSCS Act I can stay on the board and file my nomination paper”.

“I have been the chairman of the bank for two consecutive terms and have faced many difficulties especially for getting the Multi State Status for the bank”, he informed.

The bank is said to keep pace with the latest technology like Core Banking Solution, RTGS, NEFT, CDM Machine, Centralized Cheque System, Franking, ATM Network and compete with Private as well as Commercial banks.

Adv. V.Shah has been appointed as the Returning Offcier to oversee the election process. The Scrutiny was done on 30th January.


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